CORPORATE SOCIAL RESPONSIBILITY (CSR) – STANDARD OPERATING PROCEDURE (SOP) CSR – Corporate Social Responsibility Governing provisions: Section 135 of Companies Act, 2013 read with The Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended thereto. Important definition/terms: 1. Threshold limits of the previous financial year a) Net worth =/exceeding Rs.500 Cr b) Turnover =/exceeding Rs.1,000 […]
For reducing the income tax burden and for providing relief from tedious taxation work to the small taxpayers, the Indian government incorporated the presumptive taxation scheme under Section 44AD. Taxpayers opting for the presumptive taxation scheme can declare their income at the prescribed rate and aren’t required to maintain the books of accounts. As per […]
We are of the opinion that the assessee has invested the sale consideration on transfer of Capital Asset in purchasing a new residential property in the name of Smt. Shailaja J who is being married widowed dependent daughter of the assessee and also legal heir of the assessee. Accordingly, we direct the Assessing Officer to grant exemption u/s. 54F of the Act on the amount invested in purchase of residential house in his daughter’s name.
Tamil Nadu Industrial Policy 2021 Tamil Nadu Chief Minister Edapaddi K. Palanisami has unveiled the State’s new Industrial Policy 2021 last Tuesday. The State’s real GSDP has grown at a real compounded annual growth rate of nearly 8% since the previous Industrial Policy in 2014. The Policy aims to service as a criticial instrument that […]
NELSON MANDELA said- Education is the most powerful weapon which you can use to change the world. For a man who spent 27 long years in prison in his anti-apartheid battle, received about 250 honors worldwide, including the Nobel Peace Prize, he truly valued the importance of Education. It is inspiring for all of us, […]
IMPORTANT ALERT FOR UPCOMING DUE DATES Various changes have been made in Law regarding provisions of important tax compliances. This article discusses various upcoming important due dates which are relevant to almost every person. Upcoming due dates relating to filing of various forms with GST department e.g. Opt in QRMPs, LUT, Aadhar authentication, Updation of […]
Interest of more than Rs 2.5 Lakh earned annually from contribution to Employees Provident fund (EPF) or Government Provident Fund (GPF) will not be taxed retrospectively, Expenditure Secretary TV Somanathan clarified.
BJP Professional Cell, Mumbai Requested tor extension of due date for GST annual return of 2019-20 from 28th February 2021 to 30th June 2021.
What is GST Audit? Audit under GST is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST. Key Objective: 1. […]
It is submitted that Section 83 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) is proposed to be amended via clause 106 of Finance Bill, 2021. Please note that these proposals will come into effect from a date to be notified later. It is stated that Sections 2 to 79 of […]
